Gold’s downward run over the last few years is at least in part due to the media’s disinterest in the precious yellow metal, investor and investment publisher Marc Faber told CNBC.
In his appearance on the cable news network’s program “Futures Now,” Faber claimed that the mainstream media “doesn’t like gold.”
“Nobody at CNBC owns gold. Nobody at Bloomberg owns gold. Gold is being constantly talked down by the media, and Fed officials, and economists, who also don’t own any gold. They’re all stocked up in equities,” said Faber, who publishes the Gloom, Boom & Doom Report.